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1) A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $52.50 for two-and-a-half years. The first payment
1) A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $52.50 for two-and-a-half years. The first payment is due on the date of sale and interest is 21% compounded monthly. What is the purchase price? (5) 2) How much would you have to pay into an account at the beginning of every 6 months to accumulate $10,000 in eight years if interest is 7% compounded quarterly? (5) 3) How many months will it take to save $5000 by making deposits of $60 at the end of every month into an account earning interest at 6% monthly? (Answer NO decimal places.)
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